The Non-Profit Times sends almost daily emails with surveys and tips on management. I never really open them (catchy eblast titles is something they need a little work at…). Today’s stood out:
Survey: No Cash On Hand At 12% of Charities
Wow. That’s an eye-catcher. Admittedly, I am not going to dig into the methodology today, as we have a lot on the plate, but, if accurate, things are even more volatile in the non-profit world than I had thought.
America’s nonprofits expect that 2010 will be financially more difficult or as difficult as 2009, according to a survey, the results of which were released by Nonprofit Finance Fund (NFF). And, some of them don’t have enough cash on hand to get through a dry patch of more than 100 days.
And perhaps even worse that the 12% number is that “the majority (61%) has less than three months of cash available.”
Yeesh. For direct service folks, this is going to be a really tough year, with lots of new demand and fewer resources. It’s going to take some rethinking of basics to muddle through.
Our financials are here, and as you can see we have been managing ourselves with the same principles in mind that we suggest to our friends in government.